Suburb Profile Report for Lenah Valley TAS (7008)

Lenah Valley House: Median price $470,000, Annual capital growth 3.73%, Number of sales 76, Weekly median advertised rent $390

Lenah Valley Unit: Median price $307,500, Annual capital growth 3.75%, Number of sales 34, Weekly median advertised rent $310

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 999th in the list of Australian suburbs ordered by increase in median house value over the last year, Lenah Valley, 7008 is in the top 30% with a property value increase of 11.90% recorded in median house prices.

Taking the average capital gain, or increase in median house value, Lenah Valley,7008 has racked up an average of 11.90% over the period. This ranks it number 1458th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Lenah Valley 7008 should be seeing an average reduction in asking price of around -7.22% . This means that Lenah Valley is holding prices well when compared to other suburbs in TAS.

On average over the past year, suburb has had 6.33 sales per month, which equates to 76 per year.

Situated 4.02km from the CBD, Lenah Valley is one of Hobart localities in the postcode 7008.

Property value increases in Lenah Valley have tracked just higher than the TAS average of 3.78% over the last 12 months.

If we look at median property appreciation over just the last three months, Lenah Valley has given property investors a paper return of 2.50%. This puts Suburb as 23 on a list of fastest fasting appreciating suburbs in TAS

The most recent median price for Lenah Valley is $307500, with sellers offering an average of -4.87% off the asking price.

At number 46 in a list of fastest selling suburbs, Lenah Valley is in the TOP 10% of suburbs in Australia with an average of days on market 30.66 for properties listed there.

Situated 4.00km from the CBD, Lenah Valley is one of Hobart localities in the postcode 7008.

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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.Full summary

Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.

There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.

It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.

 

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Metrics i HOUSE UNIT
$470,000 $307,500
3.18% 2.50%
11.90% 7.52%
3.73% 3.75%
$390 $310
76 34
4.31% 5.24%
43.78 30.66

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 5852
Median household income ($/weekly) 1265
Median age of persons 39
Median housing loan repayment ($/monthly) 1620
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 676 11.5
    25-34 years 729 12.5
    35-44 years 921 15.7
    45-54 years 887 15.2
    55-64 years 724 12.4
    Others 1916 32.7
    Age Group
    Census Count Percent(%)
    Registered Married 2093 46.7
    Not Married 1906 42.5
    Defacto Relationship 487 10.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 4867 85.7
    Japan 47 0.8
    Papua New Guinea 51 0.9
    United Kingdom 223 3.9
    Other 175 3.1
    Others 316 5.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 52 0.9
    Christianity 3476 63.3
    Islam 58 1.1
    Other Religious Groups 47 0.9
    No Religion 1816 33.1
    Others 38 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 225 10.3
    $600-$799 222 10.1
    $1,000-$1,249 218 9.9
    $1,500-$1,999 323 14.7
    $2,000-$2,499 210 9.6
    Others 993 45.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1865 39.9
    Not in the labour force 1407 30.1
    Employed, worked part-time 1104 23.6
    Employed, away from work 170 3.6
    Unemployed, looking for work 127 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 332 10.6
    Professionals 942 30.0
    Technicians & trades workers 389 12.4
    Community & personal service workers 334 10.6
    Clerical & administrative workers 552 17.6
    Others 590 18.8
    Occupation
    Census Count Percent(%)
    Pre-school 37 2.6
    Infants/Primary 471 33.3
    Secondary 409 28.9
    Technical or Further Educational Institution 147 10.4
    University or other Tertiary Institutions 313 22.1
    Others 37 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5020 89.6
    Flat, unit or apartment 332 5.9
    Semi-detached, row or terrace house, townhouse 235 4.2
    House or flat attached to a shop, office 14 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 924 39.3
    Fully owned 875 37.2
    Rented 539 22.9
    Other tenure type 16 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals